In Late April, the Acme Construction Co

question 26

Multiple Choice

In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract. On May 2, the bill was approved for payment, subject to a ten percent retention, as provided by the contract. The amount that should be debited to Construction Expenditures is:

• A) $0.
• B) $12,000.
• C) $1,080,000.
• D) $1,200,000.

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Definitions:

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behaviors.

Self-Fulfilling Prophecy

A belief or expectation that influences behavior in a way that causes the belief to become true.

Projection

A defense mechanism by which individuals attribute their own undesirable feelings or thoughts to others.

Internal Attributions

Refers to the inference that a person is behaving in a certain way because of something about the person, such as attitude, character, or personality.